Around the World's Markets: Sao Paulo

Thursday 29 October 1998 00:02 BST

Click to followThe Independent Online

BRAZILIAN share prices fell into negative territory last night in a round of profit-taking that followed a rise of almost 4 per cent earlier in the session. The market grew nervous when government-backed institutions appeared to stop buying after an early flurry of activity which coincided with the release of the long-awaited fiscal package, traders said.

The Bovespa index of leading shares closed 0.62 per cent lower at 6,827 points in moderate volume of 583 million reals.